Vanguard Dividend Appreciation ETF (VIG) Valuation
VIG valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 25.8 trailing earnings
- Forward P/E
- 18.9 analyst estimates
- Price / sales
- 3.03
- Price / book
- 5.24
- EV / EBITDA
- 18.0
- Earnings yield
- 3.87% inverse of P/E
- Dividend yield
- 1.58% of the holdings
- Return on equity
- 20.3% combined
- Net margin
- 11.7% combined
- Beta
- 0.86 weighted, vs S&P 500
VIG valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| VIG | 25.8 | 18.9 | 3.03 | 5.24 | 1.58% | 20.3% | 11.7% | 1.3% |
| SPY | 25.9 | 19.9 | 3.67 | 5.47 | 1.08% | 21.1% | 14.2% | 1.9% |
| QQQ | 34.2 | 23.4 | 5.93 | 9.27 | 0.58% | 27.1% | 17.4% | 6.9% |
| DIA | 20.9 | 18.4 | 3.16 | 5.52 | 1.55% | 26.4% | 15.1% | 0.0% |
| VTI | 28.2 | 19.4 | 3.31 | 5.00 | 1.07% | 17.7% | 11.8% | 4.6% |
| IWM | n/m | 13.9 | 1.25 | 2.03 | 1.38% | −1.7% | −1.0% | 28.1% |
Same method for every fund. n/m = not meaningful (combined trailing earnings below zero or close to it). Loss-makers = weight of holdings with negative trailing earnings.
VIG valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Technology | 27.3% | 32.7 | 23.3 | 7.73 | 10.81 | 1.04% | 33.0% |
| Financial Services | 20.8% | 16.4 | 14.6 | 3.91 | 2.87 | 1.67% | 17.5% |
| Healthcare | 18.5% | 40.8 | 18.5 | 2.10 | 7.19 | 1.67% | 17.6% |
| Industrials | 10.5% | 25.7 | 21.3 | 2.99 | 6.39 | 1.41% | 24.9% |
| Consumer Defensive | 9.0% | 29.2 | 24.5 | 1.63 | 7.16 | 1.93% | 24.5% |
| Consumer Cyclical | 3.8% | 21.3 | 18.4 | 1.72 | 10.09 | 2.74% | 47.4% |
| Energy | 3.7% | 22.1 | 14.1 | 1.75 | 2.67 | 2.22% | 12.1% |
| Basic Materials | 3.1% | 31.9 | 18.9 | 3.10 | 4.23 | 1.29% | 13.3% |
| Utilities | 2.6% | 20.5 | 17.1 | 3.71 | 2.15 | 3.03% | 10.5% |
VIG earnings yield vs bond yields
Earnings yield = earnings ÷ price (1 ÷ P/E). The gap to bond yields is a rough gauge of the extra return stocks are priced to deliver.
How VIG weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
VIG largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| AAPL | Apple Inc. | 4.93% | 39.4 | 35.2 | 10.7 | 0.31% | 3.26% |
| MSFT | Microsoft Corporation | 4.79% | 29.5 | 25.1 | 11.8 | 0.74% | 4.23% |
| AVGO | Broadcom Inc. | 4.15% | 43.3 | 19.4 | 17.6 | 0.79% | 2.49% |
| LLY | Eli Lilly and Company | 4.13% | 42.2 | 24.4 | 14.1 | 0.55% | 2.55% |
| JPM | JPMorgan Chase & Co. | 3.98% | 14.2 | 13.5 | 4.7 | 1.94% | 7.27% |
| XOM | Exxon Mobil Corporation | 3.11% | 23.0 | 14.8 | 2.0 | 2.30% | 3.51% |
| JNJ | Johnson & Johnson | 2.75% | 38.8 | 21.0 | 6.2 | 2.10% | 1.84% |
| V | Visa Inc. | 2.45% | 34.3 | 24.0 | 17.0 | 0.67% | 1.86% |
| ABBV | AbbVie Inc. | 2.05% | 80.6 | 16.4 | 7.8 | 2.42% | 0.66% |
| WMT | Walmart Inc. | 2.05% | 43.0 | 38.0 | 1.3 | 0.83% | 1.24% |
| MA | Mastercard Incorporated | 1.99% | 34.0 | 24.2 | 15.4 | 0.56% | 1.52% |
| CSCO | Cisco Systems, Inc. | 1.92% | 32.2 | 19.8 | 6.7 | 1.56% | 1.55% |
| COST | Costco Wholesale Corporation | 1.87% | 47.6 | 40.3 | 1.4 | 0.59% | 1.02% |
| LRCX | Lam Research Corporation | 1.87% | 45.8 | 33.7 | 14.2 | 0.50% | 1.06% |
| BAC | Bank of America Corporation | 1.64% | 12.2 | 10.8 | 3.1 | 2.50% | 3.49% |
| CAT | Caterpillar Inc. | 1.61% | 31.5 | 25.4 | 4.5 | 0.89% | 1.33% |
| MRK | Merck & Co., Inc. | 1.57% | 115.8 | 15.3 | 5.4 | 2.33% | 0.35% |
| PG | The Procter & Gamble Company | 1.51% | 24.1 | 21.2 | 4.3 | 2.73% | 1.63% |
| KO | The Coca-Cola Company | 1.42% | 28.2 | 25.3 | 8.1 | 2.26% | 1.30% |
| UNH | UnitedHealth Group Incorporated | 1.41% | 25.8 | 16.6 | 0.8 | 2.31% | 1.42% |
| HD | The Home Depot, Inc. | 1.22% | 21.5 | 19.8 | 1.8 | 3.01% | 1.47% |
| TXN | Texas Instruments Incorporated | 1.17% | 42.1 | 27.5 | 13.0 | 2.20% | 0.73% |
| GS | The Goldman Sachs Group, Inc. | 1.13% | 12.7 | 12.8 | 3.6 | 2.27% | 2.31% |
| KLAC | KLA Corporation | 1.10% | 45.3 | 34.8 | 15.9 | 0.56% | 0.63% |
| ORCL | Oracle Corporation | 1.06% | 20.1 | 17.8 | 5.4 | 1.56% | 1.37% |
Share of earnings = the holding's part of the fund's combined trailing profit. Green: earns more than its weight; orange: less. Symbol links go to each company's key metrics.
About VIG valuation
Adding up its 328 holdings with company data, VIG trades at 25.8 times trailing earnings and 18.9 times analysts' forward estimates, with a price-to-book ratio of 5.24 and a dividend yield of 1.58%. Its earnings yield of 3.87% is 1.46 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 34.4% of the fund and earn 28.9% of its combined profit. By sector, Healthcare is the most expensive at 40.8 times earnings and Financial Services the cheapest at 16.4. Companies that lost money over the past year are 1.3% of the covered weight.
How these figures are calculated. Each ratio treats the fund as one company: the earnings, sales and book value of every holding are added up in proportion to its weight and divided into the fund's price. In practice that is a weighted harmonic mean, so a single stock with a very high P/E cannot distort the result, and loss-making companies reduce the fund's earnings instead of being dropped. Covers 99.7% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: VIG chart, VIG performance, VIG holdings, VIG dividends.
VIG valuation FAQ
What is the P/E ratio of VIG?
Based on its holdings, VIG has a trailing P/E of 25.8 and a forward P/E of 18.9 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of VIG?
The trailing earnings yield is 3.87% (1 ÷ P/E) and the forward earnings yield 5.28%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is VIG more expensive than the S&P 500?
VIG trades at 25.8 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 18.9 and 19.9.
What is the price-to-book ratio of VIG?
The holdings of VIG trade at 5.24 times book value, with a combined return on equity of 20.3%.
Which sector in VIG has the highest P/E?
Healthcare has the highest P/E at 40.8 and Financial Services the lowest at 16.4.